News

2012-12-03

Houses in Yerevan Become Cheaper in Dollar Equivalent

Yerevan, for sure, the fastest growing real estate market in Armenia. For many decades, urbanization has led to a significant outflow of residents of the province's booming capital. To this we add the natural growth of the population of our city. As a result, more than half of the national fund of apartments (55.8%) and more than one-third of private mansions (35.8%) now falls to the city portion.

In October of this year in the capital there were registered 159 deals on buying and selling houses in Armenia, which exceeded the figure of the corresponding month of the previous year by 45.9%. That is an increase is about fifty houses. Basically, not bad, for one month, 54.7 thousand unit was the fund for the houses in the capital.

To understand the essence of this local phenomenon, we need to consider the dynamic of the dollar in Armenia over the same period. So, in October this year, compared to the same month last year, the dollar "strengthened" by 30 drams, or 8.0%. Therefore, despite of the increase in the market price of houses in dramas, in dollar the price has decreased. First present, in graphical form, growth rate (decrease) in market price of 1 square meter area of ​​the mansion in the context of the administrative districts of Yerevan.